Eliminate Credit Card Debt

(ARA) - You've heard the old adage, pay down your credit card debt each month to avoid the nasty interest rate charges and fees that result from revolving balances. But if you're like many of us, you need to carry a monthly credit card balance to pay for basic living expenses and emergency purchases. This is exactly what the credit card companies want you to do - it's how they make money! One thing you may not realize is that by simply making your minimum payments it will take you a long time to eliminate credit card debt. Moreover, what happens when this credit card debt becomes too great of a burden, when you can no longer afford to keep up with your monthly minimum payments? Or worse, what happens if you experience a period of unemployment, or are facing unexpected medical costs? The short answer is that credit card companies still want and expect you to pay back your credit card debt.


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